I'm having a lot of trouble creating this computer program for my homework. My professor is very smart and doesn't really explain how to do things to our class. He teaches from memory so there's no book I can reference to and he's always too busy for individual help.
Basically what I have to do is create this program, using NetBeans, to be used by the loan department of a bank. It will create new loans, perform monthly compounding, update them as payments are received, generate payment schedules, and close existing accounts.

To open an account each costumer will need the following: name, address, phone number, social security number, age, initial loan amount, loan length, and credit score.

I understand that I need several arrays but I'm just having trouble implementing the arrays with the functions and doing the math.

I apologize that this is such a lengthy problem but any help that I could get would greatly be appreciated. Even if you just point me in the right direction of how to set it up or how to start that'd be awesome. Thank you so much

Let's assume it's in Java since it's in the Netbeans IDE. Why would you use Arrays, is it a requirement of the assignment? I'd model the physical system with classes - probably a Customer class, a Loan class and probably something like a Transactions Collection holding Transaction Objects for interest and payments against the Loan.

Is this just a theoretical exercise or do you need to save the data to a file or database. One easy way to save the object model I described above is to serialize it to a file.

My professor said for us to use arrays. I was under the assumption we needed to use classes. I need to save it and be able to run it on my computer when I get to class.
This is our first programming assignment and he didn't explain anything at all.

As a professional Java programmer for the last 15 years I would never use arrays in a situation like this - the Collections framework is much more relevant. However if it's a requirement of the assignment - go with arrays of Customers, Loans and Account Transactions.